Overview
- The Upper Tribunal dismissed Odey’s appeal on Monday, 14 September 2026, kept his prohibition on managing money in the UK and reduced the fine to £1,529,374.
- The tribunal’s decision rested not on trial of each misconduct claim but on findings that Odey deliberately frustrated OAM’s disciplinary process by twice dismissing ExCos, meaning the executive committees tasked with investigating complaints.
- A 2021 Simmons & Simmons review documented at least 46 allegations of inappropriate conduct between 2003 and 2020, and a 2023 media exposé prompted investor and counterparty withdrawals that effectively ended Odey Asset Management’s business.
- Odey and his lawyers denied the misconduct and said he removed the ExCos because he feared an unfair process, but the judges found his stated motives were not credible and said he showed no contrition.
- The ruling sets a regulatory precedent that interfering with governance and internal probes can itself be a career‑ending integrity breach, and Odey’s only remaining legal avenue is seeking permission to appeal to the Court of Appeal.